Woodside and Tokyo Gas discuss stake in US LNG Project
Tokyo Gas and Woodside Energy are in discussions about a possible stake in the multi-billion dollar Louisiana LNG export project. Two people familiar with these talks confirm this. Woodside, a major Australian oil and natural gas company, closed a deal this month to buy Tellurian Inc., a developer that had put itself up for sale after running out of money while building a U.S.
EUROPE GAS - Prices drop amid mild temperatures and solid supply
The Dutch and British wholesale prices of gas fell on Thursday morning, as temperatures were above normal for this time of the year and supplies remained stable. LSEG data shows that the benchmark front-month contract for the Dutch TTF hub fell 0.87 euros to 40.35 euros per Megawatt Hour (MWh), which is $12.84/mmbtu at 0915 GMT. The Dutch December…
Gazprom raises its 2024 investment program by 4%, to $16,9 billion
Gazprom, the Russian energy giant, announced on Tuesday that it had increased its investment programme for 2024 by around 4%. The previous program was approved in December and consisted of 1.57 trillion Russian roubles. This has now been raised to 1.64 trillion Russian roubles (16.85 billion dollars). Gazprom reported that both domestic and export gas supplies were increasing…
Benchmark European Gas at its highest level in 10 Months due to geopolitical risk
The Benchmark front month contract at the Dutch TTF Gas Hub hit its highest intraday levels in more than ten months Thursday as the Middle East Conflict and reports that North Korean troops were ready to assist Russia in Ukraine kept the traders on edge before the U.S. Presidential election. According to LSEG, the contract for November deliveries reached 42.57 euros per Megawatt Hour (EUR/MWh)…
EUROPE GAS-Prices trade at narrow range amid mild weather forecast and low demand
Dutch and British wholesale price rose slightly, but were contained to a small range on Monday morning due to lower demand. LSEG data shows that the benchmark front-month contract for the Dutch TTF hub increased by 0.87 euros to 40.22 Euro per megawatt hour at 0934 GMT. The contract for December was 0.25 euros higher, at 40.00 Euro/MWh. The day-ahead contract in the British market was up 2.25 cents at 98.50 pennies per therm.
Serbian Vucic thanks Putin over natural gas supplies
On Sunday, Serbian President Aleksandar Vucic thanked Russian president Vladimir Putin for helping to secure enough natural gas supplies for his country's winter. A three-year contract for gas supply between Russia and Serbia expires on March 20, 2025. Vucic, Putin’s closest European ally, explained that the phone call was the first in nearly two-and-a-half years.
Minister: German natgas supplies secure without Ukraine transit
The German Economy Ministry said on Tuesday that Germany's and neighbouring countries' natural gas supplies are safe even if the transit through Ukraine was cut off. The ministry stated that Germany's terminals for liquefied gas (LNG), even those without access to the coast, are an insurance against a natural gas shortage, including in countries outside of Europe.
EUROPE GAS-Prices edge lower amid strong supply
The Dutch and British gas wholesale prices fell on Wednesday morning, despite a stable supply. Profit-taking and escalating Middle East tensions also contributed to the decline. LSEG data shows that the benchmark front-month contract for the Dutch TTF Hub was down 0.38 euros at 39.0 euros per megawatt (MWh) or $12.66 mmBtu at 0842 GMT. The contract for the day-ahead was down by 0.10 euros at 38.78 euro/MWh.
Gazprom increases first-half gas production by 16%
Gazprom, the Russian gas company, announced on Monday that its output of natural gas increased by 16% in the first half of 2024 compared to the same period last year. This continued the recovery after the previous year's record-lows. Gazprom's oil arm Gazprom Neptune is included in the production figures. Gazprom has said that it has benefitted from…
Gas prices in Europe are falling amid steady supply
The wholesale gas price in the Netherlands and Britain fell on Friday morning. Prices have been falling from recent highs of three weeks, thanks to a steady supply that helped offset cooler temperatures. LSEG data shows that the Dutch TTF hub had dropped 0.08 euros to 37.3 euros per Megawatt Hour (MWh), which is $12.17 mmBtu by 0814 GMT. The contract for November was down by 0.23 euros, at 38.02 Euro/MWh.
EUROPE GAS - Prices rise on geopolitical concerns and colder weather
Dutch and British wholesale prices of gas rose on Monday, due to the uncertainty surrounding gas flow, the colder weather forecast at the end the month, and minor delays in Norwegian maintenance. LSEG data show that the benchmark front-month contract for the Dutch TTF Hub was up by 1.03 euros to 35.47 euros per Megawatt Hour (MWH), which is $11.51 mmBtu at 0949 GMT.
Austrian election puts Russian gas habits and a sputtering economic in focus
After the general elections on Sunday, the government in Austria that comes to power will be under increasing pressure to diversify their energy supply and move away from dependence upon Russian gas. This is happening at a time when Austria's economy is in reverse. A majority is not expected from any party. Opinion polls show that the far-right Freedom Party (FPO), which is friendly to Russia, has a slight lead.
Vienna Power says it will phase out Russian Gas in 2025
Vienna's largest power company announced on Friday that it will phase out its use Russian natural gas by 2025. Austria is increasing its efforts to reduce its dependence on energy supplied from Russia after Moscow's invasion of Ukraine in 2022. Wien Energie has announced that clients, power plants, and district heating will be supplied with non-Russian natural gas.
The price of gas in Europe has reversed its initial gains and is now lower than the oil prices.
The Dutch and British wholesale prices of gas reversed gains earlier on Tuesday afternoon. They fell in line with the oil price and offset initial concerns about rising demand due to cooler weather conditions and U.S. liquefied gas supplies. LSEG data shows that the benchmark front-month contract for the Dutch TTF Hub was down 1.75 euros to 35.40 euros or $11.43/mmBtu by 1502 GMT.
Orlen, a Polish company, signs a Lithuanian deal to increase LNG deliveries
Polish top refiner Orlen has signed a five-year contract with Lithuanian oil & gas logistics company KN Energies to use a liquid natural gas (LNG), transshipment facility in Klaipeda exclusively. This agreement is aimed at small-scale gas supplies, as LNG will be delivered via small ships to the station and then transported by trucks instead of oil tankers.
Indonesia approves Eni's Geng Nord gas project development plan
SKK Migas, Indonesia's upstream oil-and-gas regulator, said Friday that Indonesia had approved the plan of developments (POD) of the first phase for Geng North, an Italian Eni gas field in the Makassar Strait. SKK Migas confirmed that the POD approval included development of Gehem. Gehem, located near the Geng North gas field, is part of Indonesia Deepwater Development project that Eni acquired last year from Chevron.
Soaring Gas Prices Power Equinor Q2 Profits
Equinor said it will return an additional $3 billion to shareholders after reporting better-than-expected second-quarter profit on the back of soaring gas prices fuelled by the war in Ukraine. The company boosted gas supplies to Europe by 18% in the April-June period compared to a year ago, making Norway the continent's largest supplier of piped natural…
U.S. LNG Exports to Europe on Track to Surpass Biden Promise
When U.S. President Joe Biden promised European leaders in March that he would help secure new supplies of liquefied natural gas to offset shortages from Russia’s invasion of Ukraine, his pledge was greeted with skepticism.After all, the U.S. LNG industry was already hitting its export limits and the global market is dominated by long-term contracts that can dictate where exported gas would go for 20years at a time.It turns out…
U.S. Natgas up 2% on Higher Demand, Soaring Global Prices
U.S. natural gas futures edged up about 2% on Tuesday on record power demand in Texas, forecasts for more gas demand over the next two weeks than previously expected, a reduction in gas output, low wind power and much higher global gas prices.Power demand in Texas failed to hit a new all-time high on Monday due to less hot weather, but will likely…
Energy Security: Equinor Inks Deal for Winter Gas Supply with UK’s Centrica
Equinor and Centrica announced an agreement to deliver additional gas supplies to the UK, effectively providing energy security for the UK over the coming three winters. The new supply agreement adds around 1 billion cubic meters (bcm) per year to Equinor’s existing, bilateral contract with Centrica and brings the total volume under the contract above…
